president obama two years ago advocated extending the bush tax cuts. we can't afford to do that. we have to keep taxes low and expands job opportunities. >> moderator: governor king? king: nobodiments to make raises -- nobodiments -- nobody wants raise taxes, but we have to look as revenues as well as cuts. it's impossible to do it otherwise. i'm engaged with a project called the simpson-bowles, led by simpson of wyoming, a republican senator, and bowles, a democrat from south carolina. what they propose is cutting tax rates, eliminating loopholes, deductions, and exemptions, and actually reducing rates, but taking 8% of revenues generated by the process putting it against the debt. that's prudent, responsible, and nobody wants to raise taxes, but we have to talk seriously about this, and some frame work like simpson-bowles or other plans out there on a bipartisan basis, i think, are going to be necessary to solve this problem, and i think what we'll end up with is a fairer tax system and lower rates across the board and more fairly distributed amongst our people. >> moderator: okay. mr.